According to sources cited by Bloomberg, the European Union is debating the idea of utilising assets frozen by the Russian Central Bank to fund Ukraine’s rehabilitation.
The sources noted that because legal professionals are looking into the prospect of taking some of the assets into custody, the conversations are still in their early stages.
Notably, such a choice necessitates a reconsideration of the current legal precedents.
The similar concern was raised in the United States, according to “Bloomberg” sources, but it is presently unknown whether the American authorities will take any such action.
Additionally, US Treasury officials issued a warning in May last year that the seizure of assets with Russian origins might set a bad precedent and cause other central banks to pull their assets out of the US.
The European Commission reported that there are approximately 1350 Russian people and entities owning 17.5 billion euros in frozen assets in the European Union as of the end of October.
Inventor: Bloomberg.
According to Bloomberg, the European Union talks about using frozen Russian assets for Ukraine’s rehabilitation.
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